News

Saudi Arabia To Build 150,000 EVs Annually By 2026

In a bid to cut dependence on oil production and meet sustainable goals, the Kingdom will utilize its 61% share of startup Lucid Motors.

Published

2 years ago

October 25, 2022

Nour Nasir

Lucid Motors

Although Saudi Arabia is well-known as one of the world’s largest oil producers, the Kingdom has recently unveiled plans to build and export electric vehicles.

As part of the country’s “Vision 2030” strategy, the oil-rich nation will export over 150,000 EVs in 2026 to meet emissions targets and continue building a stable economy.

Although oil accounts for over 50% of Saudi Arabia’s GDP, the government is keen to diversify the economy to avoid market volatility and keep the nation’s industrial output current in a post-carbon world.

The move comes as countries worldwide continue to reduce carbon emissions and their reliance on fossil fuels. 2022 is turning out to be a record year for renewables, with research indicating that alternative energy sources entirely covered rising global energy demands in the first half of the year.

As this trend is almost certain to continue, Saudi Arabia aims to reduce its reliance on oil production dramatically, lowering the percentage of GDP from oil from 50% to 17%.

The Lucid Motors Partnership

lucid motors manufacturing plant saudi arabia

Saudi Arabia recently hit the headlines after its decision with OPEC+ to cut oil production, and now the nation is aiming its sights on a new market with EVs. Earlier this year, the Kingdom announced that it had committed to purchasing 50,000+ EVs from Lucid Motors after Saudi Arabia’s Public Investment Fund (PIF) invested over $1 billion in the EV startup in 2018, resulting in a 61% stake in the company.

According to Khalid Al-Faith, Minister of Investments, construction begins at Lucid’s EV manufacturing plant in May 2023.

Related Topics:Automotive Lucid Motors Saudi Arabia

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“AI Seal” Certification Now Required For Dubai Gov Partnerships

The new mandatory certification is designed to build trust in AI companies and create a reliable network of providers for government and public collaboration.

Published

18 hours ago

January 21, 2025

Nour Nasir

ai seal certification now required for dubai gov partnerships

Dubai Media Office

Dubai has introduced the Dubai AI Seal, a certification designed to establish trust in artificial intelligence (AI) companies and solutions. This initiative, directed by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister, aims to create a reliable network of AI providers which government entities and businesses can collaborate confidently.

Companies must now obtain the AI Seal to qualify for UAE or Dubai government contracts. The Dubai Centre for Artificial Intelligence (DCAI), which developed the certification, sees it as a competitive edge for companies looking to participate in key national projects. Once certified, businesses will be permitted to showcase the seal across their websites and marketing materials, signaling their credibility and dependability.

The evaluation process will consider six main criteria: the company’s services and operations, the number of employees specializing in AI, ongoing and future projects, as well as existing partnerships with public and private sector entities.

dubai ai seal certification

Khalfan Belhoul, CEO of the Dubai Future Foundation, which oversees the DCAI, commented on the initiative’s potential: “This initiative will help create powerful partnerships between the public and private sectors, locally, regionally, and globally. It will help drive new economic opportunities by leveraging AI to serve better the economy, society, and the future we aspire to”.

Also Read: Top Free AI Chatbots Available In The Middle East

The Dubai AI Seal’s goals include providing a clear framework for verifying AI providers, fostering business opportunities for AI companies, and acknowledging the industry’s strategic importance to Dubai’s economy. The initiative emphasizes AI’s role in driving economic growth, creating jobs, and strengthening collaboration between government bodies and technology firms.

All technology companies operating in Dubai and offering AI-related services or products are eligible to apply for the certification at no cost through the official website.